Paid Online Surveys: How Much Can You Make?
I’ve been registered with nearly 200 market research companies for over 7years now, and I can honestly say that the basic premise behind paid online surveys is not scam. But the claims that certain companies and paid listings make are often exaggerated. Here is the most popular pitch: spend a one-time fee to a paid survey listing (database), register with every company on that list, and in no time you’ll be inundated with more survey invitations than you can handle, each offering $20 or more for 15-20 minutes of your time.
For starters, most of us only end up qualifying for about 1 out of every 3 surveys we try to take. The reason for this is that the sponsor companies (the ones offering the incentive that we’re trying to earn) are looking for a definite demographic. Only a certain percentage of us will fall under the particular category that they’re looking for in any given survey. Often, we may encounter a “need money to make money” catch with paid surveys. We fail to qualify for them because we don’t already have an LCD T.V., wireless Internet, a new car purchased in the last six months, retirement savings, bonds, online investments, etc.
Check out my step by step guide to earn money taking surveys.
For those surveys we do qualify for, many offer as incentive a draw – a chance to win money or prizes – where the odds may be one in a few hundred or more (admittedly, our chances are sometimes better). The next most popular incentives are points towards prizes or cash. 150 points for a 15-minute survey may seem generous, until you realize that you need 1000 points to accrue $10. $10 for 2-3 hours of work is a far cry from the $125/hr. hype that we often read in web ads for paid online surveys.
Some of the most lucrative surveys are often the research studies: there are no right wrong answers (so we won’t be disqualified) and everyone who is invited is able to complete the survey and be rewarded for their time. There are several market research groups that make good on their promise of compensation. If you finish their survey, they mail you a check: no offers to complete, no points towards future rewards. Life would be simpler if all the companies were like this.
Finding the ones that are requires a time commitment in order to sift through all the others. Online surveys can be really enjoyable, and you can earn extra money and win some prizes in the process. Just don’t fall for some of the more inflated claims (made by people who probably want you to shell out your money for their survey listing) and start planning on quitting your day job after registering with these companies.